TATACONSUM · Fast Moving Consumer Goods
Most of the profit growth did not come from the business. What lifted the gap?
Reported profit +64.6% on the year; profit before other income, exceptional items and tax −9.1%.
Source: Quarterly statements
Operating margin slipped on the year.
EBITDA margin 13.5%, −257 bps on the year (+76 bps on the quarter).
Source: Quarterly statements
Could not run on this quarter: Exceptional items that recur, Cash behind the profit, Receivables against sales, Inventory against sales, Borrowing while holding cash, Auditor's review or audit report, IPO money used as stated, Related-party transactions, Exits, postponements, restatements, Promoter pledges and allotments, Earlier promises against delivery, When the results were filed. Most need the filing read (balance sheet, cash flow, auditor, disclosures).
Net profit a year ago, each driver's change, and net profit now. Blue added profit, red took it away.
This quarter's filing carries a balance sheet and a cash flow statement. The cash, receivables and borrowing checks run once the filing read is in.
| Q3 FY24 | Q4 FY24 | Q1 FY25 | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | Q3 FY26 | Q4 FY26 | Q1 FY27 | Q2 FY27 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | ₹3,804 cr | ₹3,927 cr | ₹4,352 cr | ₹4,214 cr | ₹4,444 cr | ₹4,608 cr | ₹4,779 cr | ₹4,966 cr | ₹5,112 cr | ₹5,434 cr | ₹5,349 cr | ₹5,661 cr |
| YoY | — | — | +16% | +13% | +17% | +17% | +10% | +18% | +15% | +18% | +12% | +14% |
| EBITDA margin | 15.0% | 16.0% | 15.3% | 14.9% | 12.7% | 13.5% | 12.7% | 13.5% | 14.1% | 14.6% | 13.5% | 13.8% |
| Other income, % of PBT | −8% | −60% | 5% | 5% | 11% | 19% | 9% | 7% | 2% | 9% | 12% | 5% |
| Exceptional items | — | — | — | — | — | — | — | — | — | — | — | — |
| Tax rate | 25% | 9% | 30% | 10% | 25% | 23% | 26% | 24% | 25% | 24% | 25% | 25% |
| Net profit | ₹302 cr | ₹212 cr | ₹289 cr | ₹367 cr | ₹282 cr | ₹349 cr | ₹332 cr | ₹407 cr | ₹385 cr | ₹424 cr | ₹427 cr | ₹470 cr |
| YoY | — | — | −14% | +1% | −7% | +65% | +15% | +11% | +37% | +21% | +29% | +15% |
| Core profit YoY | — | — | −2% | −9% | −21% | −9% | −0% | +28% | +48% | +38% | +23% | +22% |
| EPS | ₹2.89 | ₹2.19 | ₹2.93 | ₹3.68 | ₹2.82 | ₹3.49 | ₹3.38 | ₹4.09 | ₹3.89 | ₹4.24 | ₹4.31 | ₹4.74 |
| Flags | · | 1 | ✓ | 2 | ✓ | 1 | 1 | ✓ | ✓ | ✓ | ✓ | ✓ |
Each quarter is read with the same rules. Balance-sheet and cash checks run on half-year and annual quarters; filing-read checks run where a read exists.
Tata Consumer Products Ltd. reported revenue of ₹4,608 cr (+17.3% on the year) and net profit of ₹349 cr (+64.6% on the year) for January to March 2025.
Profit before other income, exceptional items and tax moved −9.1% on the year, against +64.6% for reported profit.
1 check raised a question: Most of the profit growth did not come from the business. What lifted the gap?
No. FinMinutes reports what was filed and the questions the numbers raise. It does not recommend buying, selling or holding any security.
Numbers as filed with the exchanges, read by rules. Every flag is a question with its source, not an accusation. FinMinutes is a financial data and analytics platform; nothing here is a recommendation to buy, sell or hold any security. How each check works.